Lowered Equity Requirements & Introduction of 12 New Tokens
Equity requirements dropped to USD 1,000 & 12 new Ethereum tokens to begin trading today
Today at Ethfinex we have two big announcements, the first of which is that we’re lowering the minimum account equity to USD 1,000 from USD 10,000. New accounts will now be able to trade and perform any platform function by depositing USD 1,000 in cryptocurrency. Across our organization, we’ve been preparing to open the doors to more users and this is a significant step in that direction.
Additionally, as of today, trading of 12 new tokens will go live on our exchange platform. In addition to MakerDAO’s DAI token — which we announced yesterday — new additions are all listed below.
We believe that these are two significant steps in growing a vibrant community. If you haven’t already, sign up to join our discussion boards and begin trading.
IOSToken (IOST) is developing a blockchain that aims to provide the infrastructure to support a service-oriented ecosystem. One current limitation of blockchain technology is the inability to process transactions at scale the way that massive centralized organizations can. IOSToken is proposing a novel sharding and consensus mechanism which they claim will increase transactions processed to approximately 100,000 transactions per second.
Aion (AION) is a third-generation blockchain solution which would allow disparate blockchain networks to communicate with one another. Aion’s vision is to build a interoperable base protocol for an ecosystem of independent and dissimilar blockchains. Launched as an ERC-20 token, AION will eventually launch native AION network tokens, but continue to allow the tokens to flow seamlessly between the two chains through interchain bridges.
Request Network (REQ) is a decentralized network for payment requests. The network will allow anyone to request a payment, and data associated to the transaction will be stored in a decentralised ledger. The vision for the network is that it will facilitate global transactions, allowing users to pay in any currency. Compared to existing global payment solutions, Request Network’s approach to payments will reduce fees for parties requesting payments.
Raiden Network Token (RDN) is an off-chain scaling solution for rapid, low-fee payments on Ethereum. The network will use a combination of mesh payment channels, deposits and cryptography to create a scalable payment network. Raiden’s vision is for a global payment network for every-day transactions and to facilitate transactions in the budding machine-to-machine economy.
LoopRing (LRC) is an open protocol for building decentralised exchanges on Ethereum. The protocol operates as a public set of smart contracts, which are responsible for trade and settlement. LoopRing’s protocol will facilitate trustless and anonymous trading for dApps seeking to build exchange functionality into their applications. Unlike other decentralised exchange protocols, LoopRing allows orders to be “mix-and-matched” — for example fulfilling a large sell order with multiple smaller buyer orders of different trade pairs — which has the potential to increase liquidity.
WAX (WAX) is a decentralized marketplace intended for the gaming community, where users can buy and sell assets acquired in-game. WAX Tokens allow any virtual good — even those beyond the gaming world — to be tokenized and exchanged for cryptocurrency. Asset holders will be able to operate their own virtual marketplace with zero investment in security, infrastructure, or payment processing. Exchange of the in-game objects is underpinned by a smart contract, which enables trustless trading between buyer and seller.
SingularityNET (AGI) is building a decentralized marketplace for AI services. Within this framework, the benefits of AI become a global commons infrastructure for the benefit of all; anyone can access AI tech or become a stakeholder in its development. Any developer can add a machine learning service to SingularityNET for use by the network, and receive network payment tokens in exchange.
MedicalChain (MTN) is working to enable secure, fast and transparent access to medical data to overcome some of the current inefficiencies in global healthcare to deliver better patient outcomes. MedicalChain will enable different healthcare agents such as doctors, hospitals, laboratories, pharmacists and insurers to request permission to access and interact with medical records. MedicalChain will be built on the permission-based Hyperledger Fabric architecture which allows varying access levels; patients control who can view their records, how much they see and for what length of time, but uses the ERC20 MTN as an incentive layer.
ODEM (ODEM) is an education marketplace built on Ethereum, connecting students, educators, and service providers. ODEM decreases costs and improves access to education by connecting educators with students and eliminating inefficient & costly intermediaries. Students and other education buyers can easily research and find the perfect curriculum from educators around the World. For educators, it increases their visibility among all education buyers, generates real-time feedback on courses, and pays incentives for development of relevant courses.
BnkToTheFuture Token (BFT) is the token that powers the online investment platform BnkToTheFuture.com. The platform facilitates investments in FinTech, blockchain, and bitcoin companies, with a history of successful investment in companies such as Bitfinex, Shapeshift and token sales such as Ethereum and Civic. BFT is designed to help crowdsource due-diligence and encourage investor relations and information sharing, as one of the building block for BnkToTheFuture’s upcoming securities marketplace for accredited investors. BFT holders also gain priority access to deals when deposited on their online investment platform.
As an investor into Bitfinex, BnkToTheFuture and their members also hold a stake in Ethfinex and will work closely with us as one of our token due-diligence partners in the future.
Cofound.it (CFI) connects exceptional startups with advisors and investors worldwide. Cofound.it teams go through an intensive battle-tested training process, ensuring that they go into their crowdsale well-prepared: with a solid business plan, a community of passionate early supporters and an execution plan that complies with all regulations.
Cofound.it is also part of Ethfinex’s network of due-diligence partners which gives Ethfinex access to spot high quality tokens early, and will enable some of these tokens to be offered at the crowdsale stage to Ethfinex users who have already completed their KYC requirements.
Dai Stablecoin (DAI) is a stablecoin pegged to the value of one US Dollar, built on Ethereum, and developed by the MakerDao team. DAI can be created through the depositing of Ether into a smart-contract and therefore is always fully collateralized. The requirements for a stablecoin allowing low-risk arbitrage between different cryptocurrency exchanges and price hedging by traders is mainly being met currently by USDTether — a centrally issued alternative collateralised by US Dollars held in a bank account. DAI instead removes this centralised risk point, and is slowly becoming popular in the Ethereum community with decentralised exchanges as a primary trading pair.
Listing both USDT and DAI, and offering DAI/USDT markets reflects perfectly Ethfinex’s vision of building a hybrid-decentralised exchange: Ethfinex will act as a spoke connecting together the centralised and decentralised ecosystems of exchanges. Through connecting these currently disparate markets we are facilitating new trading opportunities, by allowing customers to make markets across a more diverse range of tokens and exchanges.
